United Breweries shares tank 5 pc as Q4 net drops sharply

Shares of United Breweries Ltd fell almost 5 % on Thursday after the company reported a significant fall in standalone net profit at ₹ 6.73 crore for the fourth quarter of 2016—17 fiscal.

After making a weak opening, the stock further tanked 4.98 % to Rs 773 on BSE.

At NSE, shares of the company declined by 4.77 % to ₹ 773.35.

It had posted a net profit of₹52.37 crore in the same quarter of previous fiscal, the company said in a BSE filing on Wednesday.

Although the company’s net income on a standalone basis rose marginally during the period under review, its expenses remained higher compared to the year—ago period.

Net income stood at ₹ 2,562.03 crore in the last quarter of 2016—17, against ₹ 2,494.48 crore in the same period of previous year.

Expenses jumped to ₹ 2,554.41 crore from ₹ 2,420.55 crore in the said period.